Daily Forex Market by FXCC 16Mar2012
Daily Forex Market by FXCC 16Mar2012
EUR/USD limited below 1.3100 awaits US CPI
EUR/USD is currently resting over its ascending short term trend line started yesterday at the fresh 3-week lows 1.3003, from where it has bounced as high as 1.3120 yesterday's highs during mid NY session. The pair has pull backed since then to current session lows at 1.3066, now being in the mid price of Asian session with highs so far at 1.3100 round.
AUD/JPY spent the whole of the Asia-Pacific session consolidating below the 88.00 handle, operating within a very tight range between 87.65 and 87.99, last quoted near the top of the range at 87.95, unchanged from the daily opening.he bid tone remains ever present in AUD/CAD following its overnight bounce from 3-month lows. After respecting dynamic support at the 200-day EMA and posting its first daily gain in 9 sessions on Thursday, the pair is inching higher into the 1.0460 area, now quoted just off yesterday's 1.0463 peak.
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UPCOMING EVENTS
2012-03-16 12:30 GMT | US - Consumer Price Index (MoM) (Feb)
2012-03-16 12:30 GMT | US - Consumer Price Index (YoY) (Feb)
2012-03-16 12:30 GMT | US - Consumer Price Index Ex Food & Energy (MoM)
2012-03-16 12:30 GMT | US - Consumer Price Index Ex Food & Energy (YoY)
FOREX NEWS
2012-03-16 05:51 GMT | EUR/USD limited below 1.3100 awaits US CPI
2012-03-16 05:06 GMT | Japan Jan Coincident Index decreases to 92.7
2012-03-16 03:48 GMT | Forex: EUR/JPY threatening a push below 109.00
2012-03-16 02:32 GMT | Forex: AUD/CAD bid; resistance at 1.0485
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EURUSD : 1.30899 / 1.30909
DAILY WEEKLY MONTHLY
https://support.fxcc.com/email/techn...012/EURUSD.gif
1.3347 | 1.3291 | 1.3192 | 1.3119
1.3000 | 1.2954 | 1.2912 | 1.2870
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The EURUSD formed a top yesterday at 1.3119 (R1) and now it seems it is moving downwards to retest the support levels. The pair is at a crucial level as, if it breaks above the first resistance we expect the price to form a correction towards 1.3192 (R2) and then to continue its downward move (daily). Our recommendation for today’s session is - no position, we remain flat, until we see the reaction of the price and a clearer trend developing.
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GBPUSD : 1.57157 / 1.57173
DAILY WEEKLY MONTHLY
https://support.fxcc.com/email/techn...012/GBPUSD.gif
1.5874 | 1.5834 | 1.5788 | 1.5744
1.5601 | 1.5574 | 1.5521 | 1.5486
SUMMARY : Neutral
TREND : Neutral
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The GBPUSD rise and closed just below our first resistance at 1.5711. After that the price fell and is now moving in a consolidation mode. By the time that the price retested our resistance level 3 times without succeeding to break above that this will keep us flat for today not risking a break below 1.5600 or above 1.5750 levels, as both of these levels are significant technical and psychological important. Our recommendation for today’s trading session is no position until we see which of the bulls or the bear will win the battle.
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USDJPY : 83.456 / 83.461
DAILY WEEKLY MONTHLY
https://support.fxcc.com/email/techn...012/USDJPY.gif
85.46 | 84.98 | 84.69 | 84.17
83.18 | 82.63 | 81.95 | 81.46
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The USDJPY fell from 84.17 (R1) and formed a low at 83.18 (S1) after which the price rebounded from that level this morning and now it seems that it is moving upwards. A break above the first resistance level of 84.17 (R1) would suggest a target and retest of 84.69 (R2). If the price holds its momentum on the upside we can expect a further rise towards 84.98 (R3). On the other hand, if the price does not manage to break above 84.17 (S1) we can expect the pair to retest support at 83.18 (S1) and a further fall will be limited to 82.63 (S2).
Source: FX Central Clearing Ltd, (http://www.fxcc.com)
